Crypto Exchange Giants Exploring Ripple Support

by Seth Mek on December 11, 2018

After months of wishful thinking, Ripple (XRP) investors’ prayers may have been answered – in the near future, anyway. San Francisco-based exchange, Coinbase, has confirmed that it is exploring options to add support for Ripple.

The move was announced Friday when it revealed it plans on adding support for a “broad range of assets” – more than thirty coins and tokens were named explicitly – including a few big dogs, like Cardano, Stellar, Po.et, EOS and even Bread Wallet.

XRP hodlers have been complaining about Ripple’s absence from Coinbase considering it has added smaller assets such as 0x and a more controversial one such as Zcash, which aims to add an anonymity factor for its users. Investors have been seemingly upset, rightfully so, seeing as Coinbase is the most popular exchange for first-time buyers in the US.

The announcement follows Coinbase’s decision to revamp its listing process, which the firm said would allow it to provide support for a much larger range of cryptocurrency assets, though some would not be listed in all jurisdictions due to local regulations.

Of course, “exploring” is not the same thing as “listing,” and Coinbase stressed that the company “cannot guarantee” that every cryptocurrency named in the announcement will make its way onto Coinbase Pro and Coinbase.com. Moreover, some cryptocurrencies may only receive limited support.

“Adding new assets requires significant exploratory work from both a technical and compliance standpoint, and we cannot guarantee that all the assets we are evaluating will ultimately be listed for trading. Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet.”

Even so, the confirmation that Coinbase is at least evaluating the addition of XRP to its platform is a marked departure from earlier this year when company executives suggested that the firm had listed every asset for which it believed there was regulatory clarity. XRP, like many other cryptocurrencies, has been plagued by accusations that the token is a security and that blockchain startup Ripple — with whom it is closely associated — issued it through an illegal securities offering. Ripple denies those allegations

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